Forecasting Research in Motion + Nokia Corporation: BBRY tipped to remain under pressure but NOK could see recent rebound extended

Research In Motion Ltd (NASDAQ:BBRY): BBRY shares continue to face pressures to the downside

Shares in Research In Motion closed a healthy 2.52 pct higher on Friday coming to rest at 13.84.






Despite BBRY's recent break higher we note that the overall trend for the stock remains downward.

An analysis conducted by Trading Central says: "the downside prevails as long as 15.3 is resistance. Our pivot point is at 15.3.

"The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day MA (respectively at 14.52 and 14.43)."

Nokia Corporation (ADR) (NYSE:NOK): A rebound due?

BBRY's sector peer Nokia saw New York listed stock close a hefty 3.15 pct in the red on Friday at 3.07.

Despite the heavy selling pressure Trading Central say they are positioned for a rebound in the stock.

After looking at the NOK charts Trading Central say:

"2.99 is our pivot point. Our preference: short term rebound towards 3.62.

"The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day MA (respectively at 3.36 and 3.58)."

Market brief: Stocks and commodities head higher

Looking at the markets today we see European equities are trading higher for a second straight session after a string of encouraging results from some major firms raised optimism for the earnings season.

Lee Mumford at Spreadex says:

"Asian stocks had a strong run overnight led by Japanese exporters as the yen slid to a four-year low against the dollar. The Yen weakened toward 100 per dollar after the Group of 20 nations offered no opposition to the country’s policy stimulus.

"Gold continued to advance for a fifth day and copper extended its decline into a bear market. Crude futures advanced 0.6 percent in New York after many investors speculated that declines over the past three weeks were excessive."

Breaking: UK government sells share in URENCO

The British government has announced plans to sell its share in Urenco, the uranium enrichment company, unleashing a new wave of privatisations in an attempt to cut the public debt.

The UK government’s one-third share in Urenco could fetch up to £3bn, making it one of the biggest privatisations in the UK in years.

It may sell some or all of its stake and the form and timing of the proposed sale are not yet known.

The British government has secured agreement from the Dutch government, which owns a third of the group, and the German utility companies RWE and Eon which jointly own the remaining third.

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